Oil Companies need to move with same urgency as GM, other auto makers

June 3, 2008

The imperative for car companies to sharply adjust to rising fuel prices is far greater than energy companies moving to alternative fuels. As we know, the energy companies rake in huge profits when oil gets expensive. What GM hasn’t done for years, it’s beginning to do – make sharp cuts in production of gas guzzlers and aggressively move on schedules of fuel efficient cars. Today GM announced plans to shut down four truck and SUV plants and committed to bring the hybrid Chevy Volt into production. And it’s one of the most aggressive companies with respect to hydrogen fuel vehicles. It’s a remarkable series of moves for company known for lethargy and sacrificing its future for short term profits. For years, it refused to move away from gas guzzling trucks and broaden its portfolio with hybrids and vehicles that sip instead of guzzle gas. Following Ford’s cue with the Verve, GM also committed to doing a global car.

Make no mistake about it. Car companies are in a state of crisis across the board. For May, Ford reported a 16% drop in sales while perennial performer Toyota posted a 4.3 per cent decline. For the first time ever, the Toyota Camry and Corolla each outsold the aging Ford F-150 pickup, according to the Wall Street Journal. And for May, GM’s were in freefall, plunging 28%. It would seem large SUV production is headed into the car crusher.

Oil prices know no ceiling although the commodity is trading on fear, not on any marked shortfall in crude or refined products. It’s a sorry and scary state of affairs. The good news is that it has motivated car companies to do what they should have years. Now we just have to get the energy sector moving faster.

Posted by John Dodge on June 3, 2008 | Comments (4)

July 10, 2008

In response to: Oil Companies need to move with same urgency as GM, other auto makers
John Dodge commented:

What is this love affair with nuclear power plants? I'd still undecided. Many have pointed out that any eneergy comes at cost. I agree, but like the least costly to the environment, ones that whose supply is renewable and ones that could get cheap.

July 8, 2008

In response to: Oil Companies need to move with same urgency as GM, other auto makers
Gas guzzlers commented:

Gas guzzlers? What does that mean. Aging Ford F-150? Car crushers? And the solution is? My solution. 200 nuclear power plants. 5 kw of solar cells on every home. Hydrogen generator in back yard. Fuel cell vehicle. 1. One trillion dollars. 5 years. 2. 25 thousand dollars. 1 year. 3. 15 thousand dollars. 1 year. 4. 30 thousand dollars. 6 years. Delay for endangered sand fleas. 25 years.

June 4, 2008

In response to: Oil Companies need to move with same urgency as GM, other auto makers
I am American1492 commented:

No one is celebrating, the Big Three is reacting to the market, the same way they did when the market demanded SUVs and Trucks.... no one is demonizing Trucks.. there is still a need, only shift on Trucks is from a pleasure Truck owner a utility Truck owner. Let's not make this a political issue, because then nothing get accomplished. Drill for oil in the US - at the same time yes, let's do our best to create fuel efficient vehicles - At one time what was good for GM was good for America - Let's keep America going!

June 4, 2008

In response to: Oil Companies need to move with same urgency as GM, other auto makers
Wesley1000 commented:

Sorry, its no cause for celebration that there is a wild rush to small cars with equally small capability. It is just more evidence of the deteriorating standard of living in the US. Nobody with a Coralla is gonna be owning a boat, RV or ATVs. Further this left wing demonization of pick up trucks and anything motorized especially when its American, being foolishly swallowed buy the US public means the public is buying into this "green" ruse being used by the hard left to advance a socilalst agenda. We are heading to becoming like socialist Europe, and THATS the REAL sad and scary state of affairs.

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